Okhmatovskiy, IlyaArena, Margherita2023-12-112023-12-112023-01-182022-12-16http://hdl.handle.net/10362/161061This paper analyzes the business model evolution of the European payment system and highlights a consumers’ preference shift towards technology. Digitalization and globalization combined represent key factors that are driving consumers to modify their payment habits to an increased use of apps by neo-banks and payment providers as a new tool to manage individual finances. In addition, consumers’ role in the industry is changing organizations’ decision-making process by driving digital banks to build a more tailored service. Consequently, an analysis of the business model of the industry is presented, followed by recommendations that leverage on maximizing advantages and minimizing threats.engPayment systemDigital anksEuropeBusiness modelDigitalizationTraditional banksFintechmaster thesis203314190